Business news from Ukraine

Insurer “Ridna” has reduced payouts by 5.6 times

Insurance company “Ridna” (Kiev) in January-June 2023 collected UAH 5.456 mln of net insurance premiums, which is 3.95 times less than in the same period a year earlier, according to the annual financial report of the company, published in the information base of the National Commission on Securities and Stock Market (NCSSM).

According to it, the volume of gross insurance premiums for 6 months amounted to UAH 8,153 mln (+13,6%). UAH 2,527 mln (+43,6%) has been transferred to reinsurance.

During the reporting period the company paid UAH 1,013 mln, which is 5,6 times less than in January-June 2022.

Administrative costs of the company for the first half of the year increased by 33.4% to UAH 3.025 million, sales costs amounted to UAH 419 thousand (-18.5%)

It is noted that the company finished the first quarter with net profit of UAH 2,562 mln, which is 2,1 times less than in January-June -2022.

IC “Ridna” was registered in 2006. It specializes on rendering services in the sphere of risk insurance.

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